China, Hong Kong stocks little changed; newly-listed mainland shares tumble

Zhuzhou CRRC Times Electric

15/03/2018 04:31

* SSEC 0.0 pct, CSI300 0.4 pct, HSI 0.1 pct
    * HK->Shanghai Connect daily quota used 4.2 pct
    * Shanghai->HK daily quota used 4.5 pct
    * FTSE China A50 +0.7 pct, BNY Mellon ADR China Select Index
+0.4
pct

    SHANGHAI, March 15 (Reuters) - China stocks were nearly flat
Thursday morning, with gains in consumer and healthcare shares
offset by losses in newly-listed firms, after the securities
regulator slapped a record fine on a Chinese company for share
price manipulation.
** At 04:04 GMT, the Shanghai Composite index was down 0.04
percent at 3,290.08, while the blue-chip CSI300 index  .CSI300 
was up 0.4 percent at 4,089.25.
 
** Chinese H-shares listed in Hong Kong  .HSCE  rose 0.24
percent at 12,715.09, while the Hang Seng Index  .HSI  was up
0.12 percent at 31,473.14.
** Trading was thin in the mainland and Hong Kong as investors
remained cautious amid mounting investor concerns that growing
trade tensions would hurt the global economy.
** An index tracking newly-listed firms in Shenzhen  .SZSESN  
slumped 3.8 percent, poised for its worst day since early
February. 
** Newly-listed stocks (on the mainland) could easily fall
victim to short-term speculation due to their new concepts,
limited number of tradable shares and low PE ratios, the
official Xinhua quoted investigators from China's securities
regulator as saying.  urn:newsml:reuters.com:*:nL3N1QX1BE 
** China's financial watchdogs are pushing for harsher rules and
stepping up action against miscreants, spurred on by official
pressure on them to curb risk in the financial system, according
to multiple sources with direct knowledge of the situation.
 urn:newsml:reuters.com:*:nL4N1PV2LK 
** Officials at the central bank, as well as at the banking,
insurance and securities regulators, have been stepping up their
enforcement activities, which have been under increased scrutiny
since late last year, the sources told Reuters.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.06 percent while Japan's Nikkei
index  .N225  was up 0.13 percent.
 
** The yuan  CNY=CFXS  was quoted at 6.3124 per U.S. dollar,
0.05 percent firmer than the previous close of 6.3154. 
 
** The largest percentage gainers in the main Shanghai Composite
index were SDIC Zhonglu Fruit Juice Co Ltd  600962.SS  up 10.05
percent, followed by Luoyang Glass Co Ltd  600876.SS  gaining
10.03 percent and Huadian Energy Co Ltd  600726.SS  up by 10
percent.
 
** The largest percentage losers in the Shanghai index were
Shanghai Fukong Interactive Entertainment Co Ltd  600634.SS 
down 10.03 percent, followed by Tederic Machinery Co Ltd
 603289.SS  falling 6.54 percent and Changshu Fengfan Power
Equipment Co Ltd  601700.SS  down by 5.84 percent.
 
** The top gainers among H-shares were China Pacific Insurance
Group Co Ltd  2601.HK  up 3.08 percent, followed by Ping An
Insurance Group Co of China Ltd  2318.HK  gaining 2.97 percent
and CSPC Pharmaceutical Group Ltd  1093.HK  up 1.98 percent.
 
** The three biggest H-shares percentage decliners were CITIC
Ltd  0267.HK  which has fallen 1.90 percent, Zhuzhou CRRC Times
Electric Co Ltd  3898.HK  which has lost 1.9 percent and
Dongfeng Motor Group Co Ltd  0489.HK  down by 1.8 percent.
 
** About 8.23 billion shares have traded so far on the Shanghai
exchange, roughly 43.6 percent of the market's 30-day moving
average of 18.88 billion shares a day. The volume traded was
15.75 billion as of the last full trading day.
 
** As of 04:04 GMT, China's A-shares were trading at a premium
of 24.57 percent over the Hong Kong-listed H-shares.
 
** The Shanghai stock index is below its 50-day moving average
and below its 200-day moving average.
 
** The price-to-earnings ratio of the Shanghai index was 14.95
as of the last full trading day while the dividend yield was 1.9
percent.
 
** So far this week, the market capitalisation of the Shanghai
stock index has fallen by 0.48 percent to 29.37 trillion yuan.
 
** In Hong Kong, the sub-index of the Hang Seng index tracking
energy shares  .HSCIE  dipped 1.1 percent while the IT sector
 .HSCIIT  rose 0.6 percent. The top gainer on Hang Seng was Ping
An Insurance Group Co of China Ltd  2318.HK  up 2.97 percent,
while the biggest loser was China Mengniu Dairy Co Ltd  2319.HK 
which was down 2.69 percent.

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China stock market graphics suite     http://reut.rs/1NfkoGl
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 (Reporting by Samuel Shen, Luoyan Liu and John Ruwitch; Editing
by Gopakumar Warrier)
 ((samuel.shen@thomsonreuters.com;  +86 21 6104 1789; Reuters
Messaging: samuel.shen.thomsonreuters.com@reuters.net))